According to the latest report published by Credence Research, Inc. “Circulatory Support Devices Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global circulatory support devices market expected to witness significant growth owing to increasing demand for circulatory support devices due to increase in heart failure and cardiogenic shock.

Market Insights

The usage of implantable circulatory support devices has increased in recent years, due to the increase in the mortality from cardiogenic shock and heart failure. Cardiogenic shock is one of the most extreme types of heart failure, which leads to the dysfunction of myocardial contractile resulting the failure of the left ventricle. Circulatory support devices are used for the treatment of these types of congestive heart failures. These devices are the temporary support and act as a scaffold to treatment playing a key role in supporting the life of the patient suffering from heart failure.

According to the America Heart Association’s 2017 Heart Disease and Stroke Statistics, heart failure is projected to increase dramatically, with a rise of 46 percent by 2030. Moreover, the report states that around 92.1 Mn American are living with some type of cardiovascular disease or the delayed consequences of stroke. Cardiovascular disease asserts more lives annually than all types of prolonged lower respiratory disease and cancer combined. The rise in the patient pool suffering from cardiovascular diseases is expected to drive the market, leading to the high demand for circulatory support devices during the forecast period.

The global circulatory support devices market is distributed into product types, usage area, and by geography. On the basis of products types the market is segmented into the total artificial heart (TAH), ventricular assist device (VAD), and extracorporeal membrane oxygenation (ECMO). Additions on the basis of usage areas the market is segmented into ambulatory surgical centers and hospitals. Advancement in technology and intensifying incidence of heart failure, the surge in disposable income and better patience awareness in the emerging nations would boost the demand for circulatory support devices.

Geographically, the universal circulatory support devices market is anticipated for North America, Europe, Asia Pacific Middle East and Africa, and Latin America. In terms of value, North America drives the global market and expected that the situation will remain constant amid the forecast period. Though the dominance of North America will be clearly challenged by Europe. The need of circulatory support devices has become prominent in the Asia Pacific because of growth in the healthcare infrastructure in terms of treatment and awareness related to the disease. According to NIH, In 2016, 8.5 percent of individuals globally were aged 65 and above and this percentage is anticipated to increase to nearly 17 percent by 2050, hence this shows that rise in geriatric population will further enhance the market of circulatory support devices. There are massive probabilities for market diffusion in countries like Mexico, China, and India to the market leaders already having a grip in developed countries.